Rising coronavirus cases lift expectations for additional stimulus
by Myra P. Saefong
Silver futures marked their highest finish since 2016 and gold ended higher for a second straight session Monday, with both precious metals finding support as the rise in global COVID-19 cases threatened economic recovery, raising expectations for additional fiscal stimulus measures to
Expectations for lower interest rates and more stimulus, as well as rising debt “and a myriad of global economic worries of slower recovery and pandemic headlines,” amid U.S.-China tensions have prompted investors to “keep buying dips in gold and silver,” said George Gero, managing director at RBC Wealth Management, in a note.
Gold for August delivery on Comex rose $7.40, or 0.4%, to settle at $1,817.40 an ounce. That was the highest most-active contract settlement since July 8, when prices above $1,820 marked the highest level since September 2011.